Household income
The measures announced in this Budget contribute towards the Government's aims of reducing child and pensioner poverty and making work pay. Together with measures announced in Budget 2007 and the 2007 Pre-Budget Report, by April 2010 families with children will be £475 per year better off on average whilst those in the poorest fifth of the population will be, on average, £800 per year better off. Pensioner households will be £200 better off, on average.
As a result of all personal tax and benefit measures coming into effect since 1997, by April 2010:
- households will be, on average, £1,250 a year better off;
- families with children will be, on average, £2,000 a year better off; and
- families with children in the poorest fifth of the population will be, on average, £4,500 better off.